Information for Homeowners seeking a property manager:
How we operate as Management Services: When we take on a managed property, we charge 10% of collected rent. Though there are a million variables that affect this both positively and negatively including condition, garage/basement availability, size and location, as a general rule we charge roughly $300 per bedroom. So, for a "standard" 3 bed, 1 bath home we generally get $900 per month. That would mean for you, with a $900 rental, after our fees, you would receive an $810 check from us each month. What this 10% cost goes towards is advertising, listing, web space for your property (including a photographic virtual tour for potential renters) and showing of the property when vacant (you pay absolutely NOTHING to us for those services when your property is vacant) performing background checks and credit checks on potential tenants and once rented, being on-call 24/7 for your tenants as well as rent collection when occupied. The biggest advantage of having someone else manage your property is that the tenant NEVER knows you exist. You don't have to worry about collecting rents, or having someone call you with problems. All you do is collect a check once a month. In addition to those services, as your property manager we offer repair financing. What I mean by this is, suppose in a worst-case scenario you need a new roof which runs $3,000. You pay NOTHING out of pocket for it. Instead, I take care of getting the roof replaced and then deduct from incoming rent payments until the debt is paid off - NO INTEREST charged. Essentially, with us as your property manager, you will never pay out of pocket a dime for up-keep on the property - instead your tenants will do it for you month to month.
Extras: As home remodelers ourselves who do a great deal of this type of work for others on the side, we can personally take care of a great deal of the repairs on the property that may come up. Though repair on the property is not free to the homeowner, people whose property we manage receive a substantially reduced rate. For example, the going labor rate for a plumber in Lawrence right now is $75/hour. Any plumbing work that we do for you on your property will cost you $20/hour labor. The going rate for a house painter right now in Lawrence is $50-$60/hour. As your property manager, when it comes time to paint the house, you will pay $20/hour.
Interested in working with us? Call 785-218-2096 or Email Us
Who we are: Matt Herbert & Rachael Sudlow, a husband & wife team born & raised in Lawrence Kansas. Other than extreme jobs that require professional services (HVAC installs, sewer work, major electrical), we are the ONLY ones running our business, so we pride ourselves on quality, personal care. When we do hire out, we use experienced, local companies.
Our business model: At Present, we own several houses and manage several more. Unlike many of the Lawrence 'slumlords', we pride ourselves on having very nice homes - almost every one of the properties that we own started out as a run-down foreclosure that we completely gutted and remodeled to be a very nice home. As such, if we were to earn your business, we would expect that your house would be kept in very good condition. We find that, while obviously the quality of the home dictates the ability to charge higher rents, it also often determines the quality of tenant. Since we opened as a business in 2008, the average time one of our properties has remained vacant between renters is a matter of days.
As Landlords: Our business phone is also our personal cell phone, so like it or not, we can usually answer the phone 24/7 & be available if you have issues any time. We're always connected via phone, text or email. Having a young child ourselves, we always want to keep the houses we run in quality, safe shape.